baby bank dedicated maternal savings program via m-pesa
DESCRIPTION
baby bank dedicated maternal savings program via M-Pesa. Eva Hoffmann, David Rizk, Amber Saloner. meet Rose. she lives in Nairobi. (the average fertility rate in Kenya is 4.92 births per woman*). with her husband and two kids… and she’s expecting one more. - PowerPoint PPT PresentationTRANSCRIPT
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baby bankdedicated maternal savings program via M-Pesa
Eva Hoffmann, David Rizk, Amber Saloner
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meet Rose
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she lives in Nairobi
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with her husband and two kids…
and she’s expecting one more(the average fertility rate in Kenya is 4.92 births per woman*)
*World Bank, World Development Indicators
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she already lost a child
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lost a child
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and wants todeliver this child safely
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but
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every minute a Kenyan woman or child dies from pregnancy-
related complications
*USAID Maternal and Child Health report
*
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every hour
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every day
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Rose needs a plan
…why?
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Rose wants clinic appointments
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Rose wants malaria medication
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Rose wants blood pressure testing
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Rose wants delivery in a clinic
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but&
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healthcare is expensive!
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clinic appointments?
20 Ksh.
(20 Ksh is roughly 25¢ US, or about an hour of her family’s wages)
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malaria medication?
300 Ksh.
(two days’ wages)
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blood pressure testing?
80 Ksh.
(half a day’s wages)
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delivery in a clinic?
1500-4000 Ksh.
(10 to 25 days’ wages)
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Rose and her children sell fruit
QuickTime™ and a decompressor
are needed to see this picture.
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the family earns 150 Ksh./day
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if Rose saves 15 Ksh. each day…
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if Rose saves 15 Ksh. each day…
….it will take over 9 months
to save 4000 Ksh.
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Rose needs a tool to help her save money…
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Rose needs a tool to keep cash secure
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Rose needs a tool to make depositing easier
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Rose needs a tool to make saving a habit
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and there already is one! (kind of)
QuickTime™ and a
decompressor
are needed to see this picture.
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what if
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what if expecting Kenyan mothers had a savings account tailored to their needs?
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this is how it would work
QuickTime™ and a decompressor
are needed to see this picture.
(our prototype)
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Rose wants to save because she’s pregnant!
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and she wants to deliver a healthy baby
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(and she knows prenatal care is expensive)
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Rose signs up for a baby bank account at her local M-Pesa agent
QuickTime™ and a decompressor
are needed to see this picture.
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she chooses one of several default plans to match her income & savings ability
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her baby bank account suppliesconcrete savings goals according to her savings ability
(visits, medications, clinic delivery)
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Rose chooses to automatically save 7% of payments she receives on M-Pesa
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SMS texts help Rose track her progress and remind her to save more
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informational texts reinforce healthy habits and Rose’s commitment to her savings goals
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Rose’s baby bank account accepts deposits from friends and family, even from the UK
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Rose receives the timely disbursement of her savings
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Rose’s money is sent directly to the doctor - she never has to pocket the cash!
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but this is only one baby bank scenario
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we considered many others
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we considered many others
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we talked to the expertsSally Madsen, IDEO
Seema Jayachandran, Economics Professor at Stanford
Grant Miller, Professor of Medicine and
Economics at Stanford
Nick Pearson, Jacaranda Health
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insights from testing?
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we know it’s hard to save cash…
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we know it’s hard to save cash… without spending it immediately
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we know Rose also needs money for other priorities
like…
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travelschooling for 2 kids
foodhousing
family
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we know women have limited financial power
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we know women have limited financial power
but Kenyan mothers dominate savings circles!
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we also know thatpregnant mothers are uniquely prone to save
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and baby bank will make that a little bit easier
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Next steps:
send final presentation to the experts who have already helped us out!
and other potential partners:
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Next steps:
send final presentation to the experts who have already helped us out!
and other potential partners:Safaricom/M-Kesho
Health care providersExisting NGOs
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Eventually:
testing
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Eventually:
testingtesting
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Eventually:
testingtestingtesting
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Eventually:
testingtestingtesting
…of the many features we consideredto see what works!
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thank you
the teaching teamJoshua Cohen, Terry Winograd & Lucky Gunasekara
our collaboratorsSally Madsen, Akshay Kothari & the University of Nairobi team